A store manager uses a markup rate of 23% on all apparel. Find the cost of a shirt that sells for $12.99. Use the formula S = C + R x C, where S is the selling price, C is the cost, and R is the markup rate.

$15.98
$2.99
$10.56
$56.48

Question

A store manager uses a markup rate of 23% on all apparel. Find the cost of a shirt that sells for $12.99. Use the formula S = C + R x C, where S is the selling price, C is the cost, and R is the markup rate.
 	
	$15.98
	$2.99
	$10.56
	$56.48

phagey · Answer

@welshfella

zepdrix · Answer

$$\large\rm S=C+R\cdot C$$
They've provided us with the sale price $\large\rm S=12.99$
and the markup rate $\large\rm C=.23$ (This is 23% converted to a decimal value).

zepdrix · Answer

We'll plug this information in,$$\large\rm 12.99=C+.23C$$and attempt to solve for C, the cost of the shirt.

zepdrix · Answer

You have `like-terms` on the right side of the equation.
So how much is 1C added to .23C ?

phagey · Answer

ok

phagey · Answer

is it 10.56?

zepdrix · Answer

12.99 = 1.23C

So then C = 12.99/1.23 = 10.56

Yay good job \c:/